December Corn: December futures completed bullish spike reversals during August 2024 and 2025. It’s likely Dec25 established the high-end of a potential major (long-term) sideways range back in February at $4.7975, similar to what occurred during the winter of 2014-2015. Recall that sideways pattern would last through the fall of 2020. If Dec corn is in a new major sideways trend with a high-end near $4.80, the low end would be the August 2024 low of $3.8550. The range back in 2014 to 2020 was from the low near $3.20 (September and October 2014) through the highs near $4.20. Dec26 closed December at $4.6050.

Theoretical Positions:

  • Hedgers:
    • See Weekly Analysis: Grains (both Futures and Cash)
  • Investors:
    • Long Dec26 futures at roughly $4.6225
    • There are no option positions on at this time
  • Long-term investors will want to still be long Dec corn based on the bullish spike reversal at the end of August 2024 on the continuous monthly chart confirming the end of the previous long-term downtrend from May 2022.

November Soybeans: Nov26 was under pressure throughout December, closing at $10.6450, down 64.0 cents (5.7%) for the month. Theoretical Positions: Long-term investors may have had buy stops above the previous Nov25 4-month high of $10.7425, the equivalent in Nov26 at $10.88. Sell stops would be below the previous 4-month low of $9.8125 from August. Given the long-term fundamental outlook, the long position does not look good at the end of December.

Teucrium Corn Fund (CORN) remains in a major sideways trend. However, CORN did complete a bullish outside month during October, possibly sparking another round of buying interest. Theoretical Positions: CORN could’ve been bought near the August 2024 settlement of $17.70. Additional longs could be established on buy stops above the previous 4-month high of $18.85 during January. Some may have added longs, or initiated initial positions near the August 2025 settlement of $17.57 based on a bullish spike reversal. A new round of buys could’ve been made near the October settlement of $17.79.

The Teucrium Soybean Fund (SOYB) confirmed a major uptrend during October as it moved to a new 4-month high beyond $22.65 from June. Since then, though, SOYB has plunged due to the US market’s bearish fundamental situation and outlook. Theoretical Positions: Investors might’ve bought near the December 2024 settlement of $21.48 with sell stops below the December low of $20.20. Some may have added long positions near the April settlement of $21.47. Additional longs could’ve been added near the October settlement, creating an average price of $22.13. SOYB closed December at $21.86, down $1.74 (7.4%) for the month.

The Teucrium Wheat Fund (WEAT) resemble the stock for Beyond Meat (BYND), consistently grinding lower on a lack of buying interest. Theoretical Positions: Recent attempts at going long have likely been stopped out, putting long-term investors on the sidelines or in markets with better fundamental potential.